23 August 2019

China Cinda buys into Chicago office tower, WSJ says

Cindat Capital Management, a unit of China Cinda Asset Management Co., has teamed up with Chicago-based Zeller Realty Group, to pay just over US$300 million to buy a 65-story office tower in Chicago, the Wall Street Journal reported Thursday, citing Zeller executive vice president Ari Glass. China Cinda owns about 70 percent of the venture, while Zeller owns the remainder and is the managing partner, the report said. The deal is the largest known investment by a Chinese company in U.S. commercial property outside of the major cities on the East and West coasts, the report said.

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